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Us 12, America 9, Barack Obama 8, Joe Biden 4, Obama 3, Washington 3, Chrysler 2, Ryan 2, Bob Strauss 2, Michelle Obama 2, Arkansas 1, Iraq 1, Los Angeles 1, Obama Administration 1, United States 1, D.c. 1, Haiti 1, Chicago 1, Michigan 1, George W. Bush 1,
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  CSPAN    Capitol Hill Hearings    News/Business.  

    September 6, 2012
    6:00 - 7:00am EDT  

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[applause] president obama get it because he spent his life fighting for the middle class, and we know the economy does not grow from the top down but from the middle class out and from the bottom up. that is how we create jobs and reduce the debt. [applause] mitt romy wants to give tax cuts to millionaires and billionaires, but for middle- class families taking on by -- who are hanging on their
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fingernails, his plan will hammer them with the new tax hike of of to $2,000 -- up to $2,000. mitt romney wants to give billions in breaks to big corporations, but he and paul ryan would pulverize financial reform, dr. rice -- voucherize medicare and vaporize obamacare. [applause] the republican vision --it is clear -- i got mine. the rest of you are on your own. republicans say they do not believe in government. sure, they do. they believe in government to help themselves and their powerful friends. [applause] mitt romney is the guy that said corporations are people. no, governor romney, corporations are not people.
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people have hearts. they have kids. -- sick. they live, and they die, and that matters. that matters. [applause] that matters because we do not run this country for corporations. we run it for people, and that is why we need barack obama. [applause] after the financial crisis, president obama knew that we have to clean of wall street. for years families have been tricked by credit cards, fooled by student loans, and she did buy mortgages.
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-- and cheated on mortgages. i have an idea for the consumer protection agency to stop this. [applause] the big banks did not like this, and they marshall one of the biggest lobbying forces on earth to destroy the agency before it ever saw the light of day. american families did not have an army of lobbyists on our side. what we had was a president, president obama leading the way. [applause] when the lobbyists were closing in for the kill, where rock obama -- barack obama planted his feet and stood firm, and that is how we won the right road -- how we won. [applause] just a few weeks ago that agency, one of the biggest
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credit card companies cheating its customers and made it give people back every penny it took plus millions of dollars in fines. [applause] that's what happens when you have a president on the side of the middle class. [applause] president obama believes in a level playing field. he believes in a country where nobody gets a free ride or a golden parachute, a country where anyone who has a great idea or roles of their sleeves has a chance to build a business, and anyone who works hard can raise a family. and build some security. president obama believes in a country where billionaires pay their taxes just like their secretaries do. [applause] i cannot believe i have to say this in 2012, a country where women get equal pay for equal
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work. [applause] he believes in a country where everyone is held accountable, where no one can still your attention on wall street. -- your pension on wall street. [applause] president obama believes in a country where we invest in the future so we can create new opportunities where the next kid can make it big and the next 1. we rooted in fairness. that's how rebuild the economy of the future.
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an economy with more jobs and less debt. week road with opportunity andwe build it together. [applause] i grew up in a methodist church and taught sunday school, and one of my favorite scriptures is to the least of your brothers you have done it to me. matthew 25:40. the passage teaches about god in each of us, that we are bound to each other and that we are called to active, not to sit but to act together. senator ted kennedy understood-- call. [applause]
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four years ago he addressed our convention for the last time. he said we never lost our believe we are all called for a better country and a newer world. generation after generation, americans have answered that call, and now we are called again. we are called to restore opportunity for every american. and we are called to give the american working families of -- a fighting chance. are called to build something assault -- working families to have a fighting chance. we are called to build something better. are you ready to answer this call? [applause] are you ready for a level playing field? are you ready to fight for good jobs and that a strong middle
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class? are you ready for another generation of americans that we can build a better country and a newer world. joe biden is ready. barack obama is ready. i am ready. thank you. you are ready. god bless you. [applause]
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>> president bill clinton. >> ♪ don't stop thinking about
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tomorrow ♪ [applause] >> thank you. mr. mayor, fellow democrats, we are here to nominate a president, and i have got one in mind. i want to nominate a man whose own life has known its fair share of adversity and uncertainty. i want to nominate a man who ran for president in an already weak economy and just six weeks before an election, one of the biggest recession, a man who stopped the recession and put us on the long road to recovery, knowing all the while no matter how many jobs he saved or created, there would be millions more weighted, worried about our own kids, trying to keep their hopes alive. i want a man who burns for -- i want to nominate a man who is cool on the outside but who burns for america on the inside.
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[applause] i want a man who believes with no doubt we can build a new american economy driven by innovation and creativity, education, and by cooperation, and after last night, i want a man who had the good sense to marry michelle obama. [applause] [applause] i want barack obama to be the next president of the united states, and i probably nominate
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-- probably nominate him to be the standard bearer of bearer of the democratic party. [applause] in tampa a few days ago we heard a lot of talk about how the president and the democrats do not believe in free enterprise and individual initiative, how we want everyone to be dependent now on the government, how bad we are on the economy. this alternative universe says that everyone of us in this room who amounts to anything, we are all completely self made. one of the greatest german the -- chairman of the democratic party ever had, bob strauss and -- which is rated bob strauss says every american wants you to believe he was born in a log cabin he built himself,
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[laughter] but he admitted it ain't so. [laughter] we democrats think the country works better with real opportunities. with a relentless focus on the future,with business and government working together to promote growth and proudly share prosperity. we believe we are all in this together is a far better philosophy than we are on our own. [applause] [applause] who is right? since 1961 the republicans have
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held the white house 28 years, the democrats' 24. in those years, our private economy has built 66 million private-sector jobs, so what is the jobs for? -- what is the job score? republicans 24 million, democrats 42. [applause] there is a reason for this. it turns out advancing opportunity and economic empowerment is both morally right and good economics, because of poverty and ignorance restrict growth. [applause]
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when you do not invest in new ideas, it does not just cut off the people affected, it hurts us all. [applause] we know investments in infrastructure and research increase growth. they increase -- they create more wealth for all the rest of us. [applause] there is something i have noticed lately. you probably have, too. maybe it is because i grew up in a different time common yahoo but though i disagree -- why grew up in a different time, though i disagree with republicans, i do not hate them the way they seem to hate us. [applause]
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that would be impossible for me, because president eisenhower sent federal troops to my home state to help little rock high school who. -- to integrate little rock high school. he built the interstate highway system. when i was the governor, i worked with president reagan. i worked non the first round of welfare reform and with president george h. w. bush on national education goals. i am actually very grateful. i have to be grateful that president george w. bush saved the lives of millions of people in poor countries, and i have been honored to work with both presidents bush on the aftermath of the tsunami, hurricane katrina, the horrible earthquake in haiti. through my foundation, i am working all the time with
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democrats, republicans, and independents. sometimes i cannot tell you who i am working with because we focus on seizing opportunities and not fighting all the time. [applause] here is what i want to say to you, and here is what i want the people at home to think about. when times are tough and people are frustrated and angry and uncertain, the politics of constant conflict may be good, but what is good politics does not necessarily work in the real world. what works in the real world is cooperation. [applause] what works in the real world is cooperation. business and government, foundations and universities. asked the mayors who are here.
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los angeles is getting green and chicago is getting an infrastructure because republicans are working together to do it. they did not check their brains at the door. their purpose was to get something done. why is this true? why does cooperation work better? nobody is right all the time, and a broken clock is right twice a day. [applause] everyone of us and everyone of them who is compelled to spend leading lives between those extremes, knowing we are never going to be right all the time and hopefully we are right more than twice a day. [laughter] unfortunately, the fraction that dominates the republican party does not see it that way. they think government is always right and compromise is weakness.
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in the last couple of elections they defeated two republican senators because they dared to cooperate on issues important to the country, even national security. they beat a republican congressman with almost 100 percent voting record because they said he realizes he did not have to hate the president to disagree with him. that was a nonstarter. they threw him out. [laughter] one of the main reasons we ought to re-elect president obama is because he is still committed to constructive cooperation. [applause] look at his record. he appointed republican secretary of defense, the army, and transportation. he appointed a vice president who ran against him in 2008,
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and he trusted the vice- president to oversee the end of the war in iraq and the implementation of the recovery act. [applause] joe biden did a great job with those. [applause] president obama appointed several members of his cabinet, even though they supported hillary in the primaries. he even appointed hillary. [applause]
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wait a minute -- i am very proud of her. i am proud of the job she and the national security team have done for america. [applause] i am grateful they have worked together to make us safer and stronger, to build a world with more partners and fewer enemies. i am grateful for the relationship of respect and partnership she and the president have enjoyed and the signal that stands to the rest of the world of democracy does not have to be of blood sport. it can be an honorable enterprise that advances the public interest. [applause]
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besides the national security team, i am very grateful to the men and women who served our country in uniform through these perilous times, and i am especially grateful to michelle obama and joe biden for supporting those military families while their loved ones were overseas and for supporting our veterans when they came home, when they come home bearing the wounds of war or needed help to find education or jobs or housing. president obama's record on national security is a tribute to his strength and judgment and preference for inclusion and partnership over partisanship. we need more of it in washington, d.c. [applause]
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we all know he also tried to work with congressional republicans on health care, debt reduction, and new jobs, and that did not work out so well, [laughter] but it could have been because as the senate republican leader said in a remarkable moment of candor, whose full years before -- two full years before the election, their number one priority it was not put america back to work. it was to put the president out of work. [applause] [boos] senator, i hate to break it to you, but we are going to keep president obama on. [applause] -- on the job. are you ready for this?
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are you willing to work for it? >> for more years -- four more years! >> in tampa, did you watch the convention? i did. [laughter] in tampa, the republican argument and who was actually pretty simple -- against it was actually pretty simple. it went like this. we left a mess. he has not cleaned it up fast enough, so put us back in. [laughter] [applause] but they did it well. they looked good. they sounded good. they convinced me they love
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their families and children, and we are grateful they have been born in america. really, they did, and this is important. [laughter] they convince me they are honorable people who believe what they said when they are going to keep every commitment they have made. good we just have to make sure the american people know what those commitments are. [applause] becausein order to look like an acceptable, reasonable, moderate alternative to president obama, they did not say very much about the ideas they have offered over the last two years. they could not, because they want to go back to the same policies that got us in trouble in the first place. they want to cut taxes for high-income americans even more than president bush did. they want to get rid of pesky regulations designed to prevent another crash. and prohibit a future belt out. they want to increase defense
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spending two trillion dollars more than the pentagon has requested without saying what they will spend it on, and they want to make enormous cuts to the rest of the budget, especially programs that help the middle class and poor children. as another president once said, there they go again. [applause] [laughter] i like the argument for president obama's reelection a lot better. here is. -- here it is. he inherited a deeply damaged the economy. he began a long hard road to recovery and and laid the foundation for a more well- balanced economy that will produce millions of new jobs
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vibrant new businesses conn want new hybrid new businesses, and lots of wealth for innovators -- that will produce millions of new jobs and lots of wealth for innovators. are we where we want to be today? is the president satisfied? of course not, but are we better now we were when he took office? [applause] when president barack obama took office, the economy was in free fall. it had just shrunk 9% of gdp. we were losing 750,000 jobs a month. are we doing better than that today? the answer is yes. >> we love obama! >> here is the challenge defaces and the challenge all those who support him face.
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i have been there. a lot of americans are still angry and frustrated about this economy. if you look of the numbers, you know employment is growing. banks are beginning to lend again. in a lot of places the housing numbers are beginning to pick up, but not too many people do not feel it yet. i have the same thing happened in 1994 and early 1995. we could see the policies were working, that the economy was growing, but most people did not feel it yet. thankfully, 1996, the economy was roaring. everybody felt it, and we were halfway through the longest peacetime expansion in the history of the united states, [applause] but the difference this time is purely in circumstances. president obama started with a
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much weaker economy than i did. listen to me now --no president -- no president -- not me, not any of my predecessors, no one could have fully repaired all the damage that he found in just four years. [applause] buthe has laid the foundations for a new modern successful economy, a shared prosperity, and if you will renew the president's contract, you will feel it. you will feel it. [applause] fox, whether the american people believe what i said or not maybe this whole election.
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i want you to know that i believe it. with all my heart, i believe it. [applause] why do i believe it? i am fixing to tell you why. i believe it because president obama's approach embodies the values in america has to take to build the 21st century of the american dream, a nation of shared responsibility, a shared sense of community, so let's get back to the story. in 2010, as the present recovery program kicked in, job losses stock, and things began to turn around. the recovery act saved or created millions of jobs and cut taxes -- let me say this again, cut taxes for 97% of the
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american people, and in the last 29 months, our economy has produced about an 4.5 million private sector jobs. [applause] we could have done better, but last year the republicans thought the president's and job plan, costing the economy more than 1 million new jobs, -- the republicans blocked the president's job plan, costing the economy more than 1 million jobs. here is another job scored president obama 4.5 million. congressional republicans -- 0. [applause] during this period more than 500,000 manufacturing jobs have been created under president obama. but as the first time manufacturing jobs have been increased since the 1990's.
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[applause] i will tell you something else,the automobile industry restructuring of work. good-- worked. [applause] it saved more than 1 million jobs and not just at gm and chrysler, but accept auto companies -- at auto parts supplier companies all over the country. even the auto makers who were not part of the deal supported it. they needed to save those parts suppliers, too. we are all in this together. [applause] so what happened? there are now 250,000 more people working the auto industry than on the day the companies were restructured. [applause] now we all know governor romney opposed the plan to save gm and chrysler, so here is another jobs for.
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-- score. are you listening in ohio and across the country? and michigan? here is another job score -- obama, $250,000, romney, zero. [applause] the agreement the administration made with environmental groups, and labor, that was a good deal, too. good it will cut your gas prices in half, your gas bill. no matter what the price is, if you double the mileage of your car, you double the mileage. -- your bill is half of what it will -- would have been thereit will cut greenhouse gas emissions, and it will bring us half a million good jobs in the american economy. [applause]
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the president's energy strategy is helping, too. the boom in oil and gas production combined with greater energy efficiency, has driven oil imports to a 20-year low and renewable energy production has doubled. of course, we need a lot more new jobs. but there are already more than 3 million jobs open and unfilled in america, mostly because the people who apply for them do not yet have the required skills to renew them. -- to do them. even as we get americans new jobs, we have to prepare more americans for the new jobs that will be created. the old economy is not coming back. we have to build a new one and educate people to do those jobs. [applause]
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the president and his education secretary supported community colleges and employers and worked together to train people for jobs that are open in their communities. even more importantly, after a decade in which exploding college costs have increased the dropout rate so much that the percentage of our young people with four year college degrees has gone down so much, we have dropped 16th in the world with the percentage of people with college degrees. the president's student loan reform is more important than ever. here's what it does -- [applause] you need to tell every voter about this.
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it lowers the cost of loans. it gives students the right to repay those loans as a clear, fixed, low percentage of their income for up to 20 years. [applause] what does this mean? what does this mean? think about it. [applause] it means no one will ever have to drop out of college again for fear they cannot repay their debt. [applause] and it means that if somebody wants to take a job with a modest income, if they want to be a small-town doctor in a little area, they will not have to turn those jobs down because they do not pay enough to repay the debt. there debt obligation will be determined by their salary. [applause] this will change the future for young america.
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i do not know about you, but on all of these issues, i know we are better off because president obama made the decisions he did. that brings me to health care. [applause] republicans call it obamacare. derisively. they say it is a government takeover, a disaster. they will repeal it. are they right? audience: no! let's take a look at what's happened so far. >> individuals and businesses have already gotten more than $1 billion in the funds from insurance companies because 80- 85% of your premium should go to health care. not profits or promotion. [applause]
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a bunch of insurance companies have applied to lower their rates to comply with the requirement. more than 3 million young people are insured for the first time because their parents' policies can cover them. [applause] third, millions of seniors are receiving preventative care, all the way from breast cancer screenings to heart problems, and younger people are getting them, too. fourth, the insurance companies, not the government, will have millions of new customers, many of them middle- class people with pre-existing conditions who never could get insurance before. [applause] now, finally, listen to this,
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for the last two years, after going up at three times the rate of inflation for a decade, for the last two years, health care costs have been under 4% in both years for the first time in 50 years. [applause] so, let me ask you something. are we better off because president obama fought for health care reform? [applause] you bet we are. there are two other attacks on the president in tampa. that deserve an answer. first, both governor romney and congressman ryan attacked the president for allegedly robbing medicare of 176 pick $716 billion. but it is not true.
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that's the same attack they leveled against congress in 2010. here is what really happened. you be the judge. there were no cuts to benefits at all. none. what the president did was to save money by taking the recommendations of a commission of professionals to cut on unwarranted subsidies to providers and insurance companies that were not making people healthier. and they were not necessary to get the providers to provide the service. instead of raiding medicare, he used the savings to close the doughnut hole in the medicare drug program. [applause] and --you all have to listen carefully. this is important. he added eight years to the life of the medicare trust fund so it is solvent until 2024.
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[applause] so, president obama and the democrats did not weaken medicare. they strengthened medicare. when congressman ryan looked into that tv camera and attacked president obama's medicare savings as "the biggest, coldest power play," i did not know whether to laugh or cry. [laughter] beusekey cuts that $716 billion is exactly to the dollar the same amount of medicare savings that he had in his own budget. [applause]
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it takes some brass to attack a guy for doing what you did. [applause] [applause] you are having a good time, but this is getting serious. i want you to listen. [laughter] it is important. a lot of people believe this stuff. at least on this issue, this one issue, governor romney has been consistent. [laughter] he attacked president obama, too. but he actually wants to repeal those savings and give the money back to the insurance companies. audience: boo! >> he wants to go back to the
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old system, which means we would reopen the doughnut hole. and force seniors to pay more for drugs andwe would reduce the life of the medicare trust fund by eight full years. if he is elected, and if he does what he promised to do, medicare will now go broke in 2016. think about that. that means, after all, we will not have to wait until lauer voucher program kicks in in 2023. they are going to do it sooner than we thought. [applause] this is serious because it gets worse. [laughter] you will not be laughing when i finished telling you this. they want to cut medicaid by one-third.
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over the coming 10 years. that will hurt a lot of poor kids. but that is not all. a lot of folks do not know it, but nearly two thirds of medicaid has been on nursing home care for medicare seniors' who are eligible for medicaid. [applause] it will end medicare as we know it. a lot of the money is spent to help people with disabilities, including a lot of middle-class families whose kids have down syndrome or autism or other severe conditions. honestly, just think about it. if that happens, i do not know what those families will do. so i know what i will do. i am going to do everything i can to see that it does not happen.
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we cannot let it happen. we cannot. [applause] now, wait a minute. audience: four more years! biget's look at the other charge the republicans made. it is a doozy. [laughter] they actually have charged and run ads saying that president obama wants to weaken the work requirements in the welfare reform bill i signed that moved millions of people from welfare to work. wait. you need to know, here is what happened. nobody ever tells you what really happened. here is what happened.
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when some republican governors ask if they can have waivers to try new ways to put people on welfare back to work, the obama administration listened, because we all know it is hard for people with good work histories to get jobs today. moving folks from welfare to work is a real challenge. the administration agreed to give waivers to those governors only if they had a credible plan to increase employment by 20% and they could keep the waivers only if they did increase employment. did i make myself clear? the requirement was for more work, not less. [applause] so, this is personal to me. we moved millions of people off welfare. it was one of the reasons that, in the eight years i was present, we had 100 times move up from poverty to the middle
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class that happened under the previous 12 years. 100 times as many. it is a big deal. i am telling you thatthe claim that president obama weakened welfare work requirement is just not true. butthey just keep climbing. -- they keep claiming it. you want to know why? the poster said, we are not going to let our campaign be dictated by fact checkers. [laughter] finally, i can say, that is true. [applause] i could not have said it better myself. [laughter] i hope you and every american
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within the sound of my voice remembers it every time they see one of those ads and it turns into an ad to reelect barack obama and keep the fundamental principles of personal empowerment and moving everyone into work as soon as we can. [applause] let's talk about the debt. today, interest rates are low. lower than their rate of inflation andpeople are practically paying us to borrow money. it will become a big problem when the economy grows and interest rates start to rise. we have to deal with this big long-term debt problem or it will deal with us. it will gobble up a bigger and bigger percentage of federal government that we would spend on education and health care and science and technology. we have to do with it. -- we have to deal with it. what has the president done. ? he has offered a reasonable
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plan of $4 trillion in debt reduction over a decade. with $2.50 trillion, with every $2.50 trillion in spending cuts, he raises. $1 in new revenue. that is the kind of balanced approach proposed by the simpson bowls commission, a bipartisan commission. i think this plan is way better than governor romney's plan. first, the romney plan fails the first test of fiscal responsibility. the numbers do not add up. [applause] consider this. what would you do? we have a big debt problem and we have to reduce the debt. to reduce the debt, we will have another $5 trillion in tax cuts, heavily weighted to upper income people. we will make that hole bigger
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before we start to get out of it. what will you do about this $5 trillion you added on? they say we will make it up by eliminating loopholes in the tax code. then you ask, which ones and how much? they say, see me after the election. [laughter] i'm not making it up. see me about that after the election. people ask me how we got for surplus budgets in a row. what new ideas did we bring to washington? i always give one answer. arithmetic. [applause] arithmetic.
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if they stay with this $5 trillion tax cut plan in a debt reduction plan, the arithmetic tells us, no matter what they say, one of three things is about to happen. one, assuming they tried to do what they say they will do, get rigid cover it by cutting those deductions, one, they will have to eliminate so many reductions that middle-class families will see their tax bills go up an average of $2,000. anyone who makes $3 million or more sees their tax bill go down. $250,000. [boos] or, two, they will have to cut so much spending that they will obliterate the budget for the national parks for insuring clean air, clean water, say food, they will cut on college
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loans, early childhood education, child nutrition programs, all the programs that help to empower middle-class families and help poor kids. they will cut back on investments in roads and bridges and science and technology and biomedical research, that is what they will do. they will hurt the middle class and the poor and with the future on hold to give tax cuts to upper income people who have been getting it all along. or, three, in spite of all of the rhetoric, they will do what they have been doing for more than 30 years. they will cut the taxes way more than they cut spending, especially with that big defense increase, and they will just exploded the debt and weaken the economy and they will let interest gobble what your tax payments. do not ever forget when you
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hear them talk about it that republican economic policies quadruple the national debt before i took office, in the 12 years before i took office, and doubled the debt in the eight years after i left. because it defied arithmetic. [applause] it was a highly inconvenient thing for them in our debates that i was just a country boy from arkansas and i came from a place where people still thought two plus two is four. [laughter] [applause] it is arithmetic. we simply cannot afford to give the reins of government to someone who will double down on trickle-down. [applause]
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think about this. president obama, president obama's plan cuts the debt, honors our values, bright as the future of our children, families, and nations. it is a heck of a lot better. it passes the arithmetic test. it passes the values test, far more importantly. [applause] my fellow americans, all of us in this grand hall and everybody watching at home, when we vote in this election, we will be deciding what country we want to live in. if you want a winner-take-all, "you are on your own" society, you should support the republican ticket. if you want a country of shared opportunities and shared responsibility, a "we are all in this together" society, you
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should vote for barack obama and joe biden. [cheers and applause] if you want america, if you want every american to vote, and you think it is wrong to change voting procedures, just to reduce the turnout of younger, poorer, minority, voters. you should support barack obama. [applause] if you think the president was right to open the doors of
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american opportunity to all those immigrants brought here whenever young so they can serve in the military are go to college, you must vote for barack obama. [applause] if you want a future of shared prosperity, where the middle class is growing and poverty is declining, where the american dream is alive and well and where the united states maintains its leadership as a force for peace, and justice, and prosperity, in this highly competitive world, you have to vote for barack obama. [applause] look, i love our country so much and i know we are coming back. for more than 200 years, through every crisis, we have always come back. people have predicted our
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demise ever since george washington was criticized for being mediocre with a bad set of wooden false teeth. [laughter] we always come back. [applause] we come through every fire a little stronger and a little better. and we do it because, in the end, we decide to champion the cause for which our founders pledged their lives, their fortunes, their sacred honor. the cause of forming a more perfect union. [applause] my fellow americans, if that is what you want, if that is what you believe, you must vote and you must reelect president barack obama. god bless you and god bless america. [cheers and applause]
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♪ ♪ yesterday's gone yesterday is gone, yesterday's gone. don't stop thinking about tomorrow ♪ ♪ you can stand me up at the gates of hell but i won't back down. i will stand my ground i won't be turned around. back when i will keep this from dragging me down and stand my ground and i won't back down i won't back downbaby, there ain't no easy way out
6:59am
i will stand my ground and i won't back down and i won't back down